First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Average Rating of “Moderate Buy” by Brokerages

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has earned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $1,920.82.

FCNCA has been the topic of a number of research analyst reports. Raymond James raised shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price target on the stock in a research note on Tuesday, July 2nd. Piper Sandler upped their price target on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Jefferies Financial Group began coverage on First Citizens BancShares in a report on Tuesday, July 9th. They issued a “buy” rating and a $2,005.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Barclays raised their target price on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th.

First Citizens BancShares Stock Up 2.3 %

Shares of FCNCA opened at $1,915.14 on Friday. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 10.63 and a beta of 0.82. First Citizens BancShares has a 52 week low of $1,274.91 and a 52 week high of $2,174.80. The stock’s 50-day moving average price is $1,938.02 and its 200-day moving average price is $1,754.75. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Thursday, July 25th. The bank reported $50.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.91 by $5.96. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $2.30 billion. First Citizens BancShares had a net margin of 18.19% and a return on equity of 14.84%. During the same period in the previous year, the business posted $52.60 EPS. On average, sell-side analysts predict that First Citizens BancShares will post 200.92 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Friday, August 30th. First Citizens BancShares’s dividend payout ratio (DPR) is 3.64%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. ORG Partners LLC acquired a new stake in shares of First Citizens BancShares during the 1st quarter worth about $29,000. Mather Group LLC. purchased a new position in First Citizens BancShares in the first quarter valued at approximately $31,000. LRI Investments LLC acquired a new stake in First Citizens BancShares during the first quarter worth approximately $33,000. V Square Quantitative Management LLC purchased a new stake in shares of First Citizens BancShares during the 2nd quarter worth approximately $35,000. Finally, Principal Securities Inc. acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.